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Organic Fertilizer Market Estimated To Experience A Hike In Growth 2019-2029
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Sep 19, 2022, 5:13 AM ET
NEW YORK, NEW YORK, UNITED STATES, September 19, 2022 /EINPresswire.com/ -- Persistence Market Research delivers significant insights on the global organic fertilizer market, which includes global industry analysis 2014-2018 and forecast 2019-2029. The demand for organic fertilizers across the globe is expected to remain steady, with a volume CAGR of ~6% during 2019-2029. Among sources, the animal-based segment is expected to expand at a significant CAGR in terms of value over the forecast period. Among applications, the cereals and crops segment is estimated to witness a higher CAGR in terms of value over the forecast period.
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The global sales of organic fertilizers are estimated to be valued at ~US$ 6.52 Bn by the end of 2019. Europe is estimated to account for a value share of ~38% in the global organic fertilizer market by the end of 2019, and it is anticipated to retain its dominance throughout the forecast period.
Organic fertilizers are emerging as vital components for agriculture due to the immense environmental benefits of using organic fertilizers when compared to conventional fertilizers. Governments across the globe are taking several initiatives in the form of subsidies and workshops for promoting the use of organic fertilizers. Hence, creating growth opportunities for the global organic fertilizer market. Organic food has gained much popularity around the world, especially in developing countries. Due to the rising health consciousness, there has been substantial increase in the global organic food and drink market sales.
The growing demand for organic food is expected to drive the growth of the global organic fertilizer market during the forecast period. Moreover, the use of organic fertilizer enhances the soil fertility and provides better aeration, water retention, and promotes the growth of microorganism activity, which is essential for the plant growth. Organic fertilizers are slow release fertilizers and hence, they provide nutrition to plants for a longer duration. These are some of the factors that are likely to rise in the global demand for organic fertilizers.
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Organic Fertilizer Market Analysis by Application:
Based on application, the global organic fertilizer market is segmented into cereals and crops, fruits and vegetables, and lawn and turfs. In terms of application, cereals and crops, and fruits and vegetables organic fertilizer segments are projected to hold a significant share in the global organic fertilizer market during the forecast period.
Globally, the organic fertilizer market is mostly driven by the growth of healthy and organic eating habits such as food, snacks, and drinks. The organic agriculture industry considerably contributes to the global GDP. Governments of major economies are constantly working on the development of healthy and nutritious food.
Organic Fertilizer Market Analysis by Form:
Based on form, the global organic fertilizer market is segmented into solid and liquid. The solid segment is expected to hold a prominent share in the global organic fertilizer market during the forecast period. The liquid segment is projected to experience significant growth during the forecast period. This growth is attributed to the increasing demand for healthy and organic beverages due to its health benefits across the globe.
Organic Fertilizer Market Analysis by Region:
From a regional perspective, the global organic fertilizer market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Europe holds the major area under organic cultivation as compared to other regions. Moreover, there has been a remarkable increase of organic food and drinks in the region. North America is also a significant shareholder in the global organic fertilizer market with organic food sales showing double digit growth and significant increase in the organic farmland. In 2019, the Europe market is estimated to hold nearly 38% share in the global organic fertilizer market. Australia is a significant consumer of organic fertilizers with the large organic agricultural land. The organic fertilizer market in Asia Pacific and Latin America is expected to be lucrative and is anticipated to grow at a CAGR of ~6% between the periods of 2019 and 2029.
Organic Fertilizer Market: Vendor Insights
The report includes some of the main companies that are operative in the global organic fertilizer market such as Sustane Natural Fertilizer Inc., Biostar Renewables, Italpollina spa, Plantin, ILSA S.p.A, True Organic Products Inc., California Organic Fertilizers Inc., Camson Bio Technologies Limited, Purely Organics LLC, Pupuk Kaltim, Qingdao Sonef Chemical Co., Coromandel International Limited, etc.
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